On August 10, a credit card account had a balance of $365. A purchase of $62 was made on August 15, and $151 was charged on August 27. A payment of $79 was made on August 15. The interest on the average daily balance is 1.25% per month. Find the finance charge on the September 10 bill. (Round your answer to two decimal places.) $
On August 10, a credit card account had a balance of $365. A purchase of $62 was made on August 15, and $151 was charged on August 27. A payment of $79 was made on August 15. The interest on the average daily balance is 1.25% per month. Find the finance charge on the September 10 bill. (Round your answer to two decimal places.) $
Chapter9: Accounting For Receivables
Section: Chapter Questions
Problem 12Q: Berry Farms has an accounts receivable balance at the end of 2018 of $425,650. The net credit sales...
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On August 10, a credit card account had a balance of $365. A purchase of $62 was made on August 15, and $151 was charged on August 27. A payment of $79 was made on August 15. The interest on the average daily balance is 1.25% per month. Find the finance charge on the September 10 bill. (Round your answer to two decimal places.)
$
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